Registered number
11670580
INTENT TECHNOLOGIES LTD
Filleted Accounts
31 December 2023
INTENT TECHNOLOGIES LTD
Registered number: 11670580
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 1,291,205 756,767
Tangible assets 4 9,126 5,391
1,300,331 762,158
Current assets
Cash at bank and in hand 1,891,354 890,116
Creditors: amounts falling due within one year 5 7,956 21,754
Net current assets 1,899,310 911,870
Total assets less current liabilities 3,199,641 1,674,028
Creditors: amounts falling due after more than one year 6 (34,883) (36,689)
Net assets 3,164,758 1,637,339
Capital and reserves
Called up share capital 23 23
Share premium 4,482,627 2,218,464
Profit and loss account (1,317,892) (581,148)
Shareholders' funds 3,164,758 1,637,339
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A M Deak
Director
Approved by the board on 5 February 2024
INTENT TECHNOLOGIES LTD
Notes to the Accounts
for the period from 1 December 2022 to 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Computer Software
Cost
At 1 December 2022 924,401
Additions 618,255
At 31 December 2023 1,542,656
Amortisation
At 1 December 2022 167,634
Provided during the period 83,817
At 31 December 2023 251,451
Net book value
At 31 December 2023 1,291,205
At 30 November 2022 756,767
Computer software development costs will be written off in equal annual instalments over its estimated economic life of 5 years once the software has been launched.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 9,478
Additions 6,777
At 31 December 2023 16,255
Depreciation
At 1 December 2022 4,087
Charge for the period 3,042
At 31 December 2023 7,129
Net book value
At 31 December 2023 9,126
At 30 November 2022 5,391
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs (7,956) (11,396)
Directors Loan Account - (10,358)
(7,956) (21,754)
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 34,883 36,689
7 Controlling party
The company was under the control of the director during the year under review.
8 Other information
INTENT TECHNOLOGIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
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